Financial problems have reached epidemic proportions in our country, a crisis that causes major problems at both the community and national levels. Financial issues contribute to a variety of troubles many people face today: from crushing debt to retirement shortfalls. And the stress associated with financial issues can have devastating emotional impact. This epidemic hurts not only individuals, but the community as a whole.

Current statistics clearly indicate that many Americans are suffering greatly from a lack of practical financial knowledge. Reading these statistics and research is like looking into a crystal ball. Learning that as many as 75% of college students lack money handling skills tells us that those students are likely to run into credit problems in the future. Reading that the majority of U.S. adult workers have no savings or retirement plan tells us that those people will be unable to retire.

The U.S. economy is consumption-based. As people become unable to afford purchases- that reduces the country’s GDP. The whole world will feel the effects. But according to the NFEC, the country’s leading financial education providers, simply raising people’s personal finance knowledge empowers them toward secure futures.

Greetings! I have an announcement and yes, it comes with a catch. Free money is available ($5000.00 per fiscal year) to youth between the ages of 16-23 years old who are wards of the state (foster children and those transitioning out of foster care) for educational purposes, which can include room and board (while living on campus).

The fund is called the Education and Training Voucher (ETV), and it is provided to states to fund youth in the foster care system and those adopted who are enrolled in college, university and vocational training programs. Students may receive up to $5000.00 a year up to five years or until their 23rd birthday, based on the cost of attendance to their respective programs. ETV funds can be combined with other grants or scholarships to minimize or eliminate the need for student loans. Read the rest of this entry »